Gold & Silver Rates Today, 23 April 2025: Domestic gold futures (June 5) on Wednesday’s evening session declined as much as 3.43 per cent to Rs 94,000. Silver futures (May 5), on the other hand, gained 2.29 per cent to Rs 98,080 per kilogram on the MCX.
Meanwhile, in the global commodity market the prices the COMEX fell by nearly $120, bringing the price down below the $3,300 level.
This synchronised decline across markets reflects heightened volatility and shifting investor sentiment influenced by international economic cues.
The decline in gold prices followed remarks by US Treasury Secretary Scott Bessent, who indicated potential progress in trade relations with China. These comments buoyed equity markets and strengthened the US dollar. The dollar index (.DXY) advanced by 0.7 per cent,
“Gold began to retreat after the Treasury Secretary’s comments hinted at progress with China. That’s when the sell-off began,” noted Bob Haberkorn, Senior Market Strategist at RJO Futures.
Expert Insight: Volatility expected to persist
According to Manoj Jain, Director at India Nivesh, “Gold and silver exhibited significant volatility. While gold touched $3,500 during early trade, subsequent profit-booking occurred after encouraging U.S. statements regarding China.”
Key technical levels by the analyst:
- Global Gold: Support at $3,384–$3,330; Resistance at $3,440–$3,480
- MCX Gold: Support at ₹96,600–₹95,850; Resistance at ₹98,000–₹98,650
How to trade gold & silver: Know what Jain recommends
Gold: Consider selling near Rs 97,000 with a stop-loss at Rs 97,400
Silver: Consider buying near Rs 95,200 with a stop-loss at Rs 94,400
Gold outlook remains positive despite correction
Despite the recent pullback, gold has appreciated by 29 per cent year-to-date and has recorded 28 all-time highs in 2025. JPMorgan has projected that gold prices may surpass $4,000 per ounce by 2026.
The Relative Strength Index (RSI) for gold stands at 74, indicating overbought conditions.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
